Ok so we have a couple of IPs
Loans of 508, 80k of which we can use as deposit on next ip (loc not drawn down)
So really I guess our loans are currently 428k
We will have rent of 700 per week
Only on about 80k combined income, will be 100k in 6 months
Decision We need to make is wether to go down the cash path next or more 'blue chip' locations
There's a particular property I like which would be about a 5% yield and then there's another property in a regional yielding 10% with probably not great chance of near future growth.
They both would be about 400k
My thinking is that we could purchase the high yield and then because of the increased serviceability via high rent then purchase something with better chance of gains.
Would I be right in thinking we couldn't do it the other way around?
Ie - can you be 'maxed out' but still be able to buy a very high yielding property if you have a deposit
Loans of 508, 80k of which we can use as deposit on next ip (loc not drawn down)
So really I guess our loans are currently 428k
We will have rent of 700 per week
Only on about 80k combined income, will be 100k in 6 months
Decision We need to make is wether to go down the cash path next or more 'blue chip' locations
There's a particular property I like which would be about a 5% yield and then there's another property in a regional yielding 10% with probably not great chance of near future growth.
They both would be about 400k
My thinking is that we could purchase the high yield and then because of the increased serviceability via high rent then purchase something with better chance of gains.
Would I be right in thinking we couldn't do it the other way around?
Ie - can you be 'maxed out' but still be able to buy a very high yielding property if you have a deposit